Walmart de México y Centroamérica, the company in Latin America with the highest number of women serving on its Board of Directors: NGO from Washington, D.C.

According to Corporate Women Directors International

Women represent 45.5% of its board members

The region’s top 100 companies were evaluated

Mexico City, Jan. 9, 2013 - According to the study titled Women Board Directors of the 100 Largest Latin American Companies, conducted by Corporate Women Directors International (CWDI), Walmart de México y Centroamérica is the Latin American company with the most women –5 of its 11 board members, or 45.5%– serving on its Board of Directors.

The study analyzes the boards of directors for the top 100 companies in Latin America, concluding that the majority –some 58%- of companies in the region do not have a single female member on their board. In general, women represent a mere 5.6% of the members of the boards for these companies.

According to academicians cited for the study, there must be a critical mass of at least three so that women may exert influence within any given board of directors. Among the top 100 companies in Latin America, only two Mexican ones -Walmart de México y Centroamérica and Fomento Económico Mexicano (FEMSA)- have said critical mass.

The study indicates that Latin America lags behind regarding the participation of women on boards of directors; the percentages in Canada and the United States are 15%; 14%, in Europe; and 7.1% for the Asia-Pacific region.

“The result of the study further encourages the efforts conducted by Walmart de México y Centroamérica in gender equality issues. We have initiatives such as the Equality and Inclusion Advisory Board, whose purpose is to raise the number of female executives within the framework of being the best place to work for women. This outlook on gender is a reflection of the philosophy of the primary governing body of our company: the Board of Directors,” said Antonio Ocaranza, the Director of Corporate Communication.

Currently, 53% of the 245,000 associates (employees) working at Walmart de México y Centroamérica are women, and by the same token, women account for 29% of the executive positions in the company (from Manager to Vice President). In 2011, 448 male and female executives alike, from Asst. Director positions to the company’s CEO attended the Gender Intelligence workshop to further raise awareness on the role of women within the organization.

Corporate Women Directors InternationalCorporate Women Directors International (CWDI) is a not-for-profit organization headquartered in Washington, D.C., that promotes, worldwide, the participation of women on corporate boards of directors. Moreover, CWDI drives national and international networking to connect female Directors in the hopes of improving their skills so they may become involved with corporate governance bodies.

The report titled Women Board Directors of the 100 Largest Latin American Companies is the 20th study during the last 16 years, examining the status of female appointees to positions on within boards of directors.

The top five companies listed in the aforementioned report:

Placing

Name

Country

Women on the B. of D.

Number of total Directors

Percentage of Women

1st

Walmart de México y Centroamérica

Mexico

5

11

45.5%

2nd (tie)

Cementos Argos

Colombia

2

7

28.6%

2nd (tie)

Inversiones Argos

Colombia

2

7

28.6%

3rd

FEMSA

Mexico

4

17

23.5%

4th (tie)

Petrobras Distribuidora

Brazil

2

9

22.2%

4th (tie)

Volcán Cía Minera

Peru

2

9

22.2%

5

Petrobras

Brazil

2

10

20%

Walmart de México y Centroamérica

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